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Click ‘Get Form’ to open the Notice of Lease for Recording - Utah in our editor.
Begin by filling in the 'Prepared by, recording requested by and return to' section. Enter the name, company, address, city, state, phone, fax, and zip code as required.
In the 'MEMORANDUM AND NOTICE OF LEASE AGREEMENT' section, specify the names of the Lessor(s) and Lessee(s) along with the date of agreement.
Detail the property being leased by entering the county and a description of the real property in the designated fields.
Indicate the lease duration in years and fill in the commencement and ending dates.
Complete any additional terms from your lease agreement dated on a specific day. Ensure all parties sign where indicated.
Finally, provide notary information including acknowledgment details and ensure that it is signed by a Notary Public.
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Requirements for Recording Legibility. Documents must be clearly readable (Utah Code 57-3-106) Names of Signers Printed. Names must be printed or typed of all signers whose names are required to be indexed. ( Notary Acknowledgement. Nature of Document. Return Address. Legal Description. Original Document.
Do you have to record a lease?
Failing to record a notice of lease can expose tenants to docHub risks, including: Loss of Lease Rights in a Sale or Foreclosure: If the property is sold or foreclosed upon, the new owner may not be obligated to honor the lease if it wasnt recorded.
What is Section 57 3 105 in Utah?
Legal description of real property and names and addresses required in documents. Except as otherwise provided by statute, if a document for recording does not conform to this section, a person may not present the document to the office of the recorder of the county for recording.
When to record a finance lease?
Under the international IFRS 16 and Australian AASB 16 standards, the lessor records a finance lease as a direct finance lease when the carrying value and the lease payments are the same. If the present value of the lease payments is more than the asset carrying value, then the lessor records a sales-type lease.
How much notice does a landlord have to give in Utah?
Utah Landlord Responsibility and Rights State law requires that landlords must give at least a twenty four hour notice before entering the premises of the tenant unless it is an emergency.
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Recordation is important because it provides legal certainty, protects contractual rights, and ensures transparency in transactions. By recording an agreement, parties create an official record that can be referenced in legal proceedings, preventing unauthorized claims or disputes.
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MEMORANDUM
May 19, 2022 THIS LEASE AGREEMENT (Lease) is made and entered into as of the day of. March, 2022, by and between THE UNIVERSITY OF UTAH, a body
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